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The "real issue" in Europe, says Goldman COO Gary Cohn is not fixing the banks or adding capital...

The "real issue" in Europe, says Goldman COO Gary Cohn is not fixing the banks or adding capital to the system, but how to get weaker economies back growing without the tool of devaluation. It's a political issue, he says, and it may take a "Lehman" moment to get the politicians in gear.
Comments (2)
  • Skull & Bones
    , contributor
    Comments (59) | Send Message
    It takes a "Lehman moment" to get ANY politician to act which is why the issues in the EU will continue to fester as the US careens toward the "fiscal cliff" will no political will whatever to solve anything. Reminds me of the TARP vote that failed in Congress the first time around during those dark days in the fall of 2008. It took an 800 point drop in the markets the next day to convince politicians that REAL ACTION had to be taken IMMEDIATELY.
    20 Jun 2012, 05:00 PM Reply Like
  • Josh Krause
    , contributor
    Comments (1361) | Send Message
    TARP vote might have passed if Paulson and Co. had bothered to talk with the head of the Republican party at the time and man running for President.


    Paulson was a blind clown in his handling of TARP, etc. Didn't even bother talking to McCain until the day of the vote. Didin't bother to tell the Europeans that Lehman was going under.


    Complete farce. At least he got his private island to hide on, amiright?
    20 Jun 2012, 05:06 PM Reply Like
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